{"id":3051,"date":"2018-10-09T12:11:01","date_gmt":"2018-10-09T12:11:01","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/big-four-audit-firms-face-competition-probe\/"},"modified":"2018-10-09T12:11:01","modified_gmt":"2018-10-09T12:11:01","slug":"big-four-audit-firms-face-competition-probe","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/big-four-audit-firms-face-competition-probe\/","title":{"rendered":"&#8216;Big Four&#8217; audit firms face competition probe"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape no-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"A Carillion sign on a building site in the City of London\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/17582\/production\/_103781659_carillion1.jpg\" width=\"976\" height=\"549\"\/><span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">AFP<\/span><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p class=\"story-body__introduction\">The UK competition watchdog is to investigate the audit sector following concerns over conflicts of interest.<\/p>\n<p>It will look at whether the sector is &#8220;competitive and resilient enough to maintain high quality standards&#8221;, the Competition and Markets Authority said.<\/p>\n<p>The decision follows concerns the sector &#8220;is not working well for the economy or investors&#8221;, the CMA said.<\/p>\n<p>The dominance of the &#8216;Big four&#8217; accountancy firms Deloitte, EY, KPMG and PwC is expected to be scrutinised.<\/p>\n<p>The move comes amid growing concerns about the quality of audits, in particular following the collapse of construction firm Carillion.<\/p>\n<p>&#8220;If the many critics of the audit process are right, it is not just the companies which buy audits that lose out; it is the millions of people dependent on savings, pension funds and other investments in those companies whose audits may be defective,&#8221; said the CMA&#8217;s new chairman Andrew Tyrie.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-45795364\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright AFP The UK competition watchdog is to investigate the audit sector following concerns over conflicts of interest. It will look at whether the sector is &#8220;competitive and resilient enough to maintain high quality standards&#8221;, the Competition and Markets Authority said. The decision follows concerns the sector &#8220;is not working well for the economy &hellip; <\/p>\n","protected":false},"author":0,"featured_media":3052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=3051"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3051\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/3052"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=3051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=3051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=3051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}